We report on X-ray and gamma-ray observations of the millisecond pulsar ( MSP ) B1937+21 taken with the Chandra X-ray Observatory , XMM-Newton , and the Fermi Large Area Telescope . The pulsar X-ray emission shows a purely non-thermal spectrum with a hard photon index of 0.9 \pm 0.1 , and is nearly 100 % pulsed . We found no evidence of varying pulse profile with energy as previously claimed . We also analyzed 5.5 yr of Fermi survey data and obtained much improved constraints on the pulsar ’ s timing and spectral properties in gamma-rays . The pulsed spectrum is adequately fitted by a simple power-law with a photon index of 2.38 \pm 0.07 . Both the gamma-ray and X-ray pulse profiles show similar two-peak structure and generally align with the radio peaks . We found that the aligned profiles and the hard spectrum in X-rays seem to be common properties among MSPs with high magnetic fields at the light cylinder . We discuss a possible physical scenario that could give rise to these features .